Enel gets €380M EIB loan to boost grid efficiency

ROME
Enel SpA said Thursday it has secured a loan of 380 million euros ($456 million) from the European Investment Bank to help the Italian electricity company cover some of its investments aimed at boosting efficiency on its Italian power grid
More than a third of those investments will be in southern Italy, Enel said
The EIB loan is for 20 years, with a five-year grace period, and is priced at 155 basis points over Euribor for the period, Enel said.